prices in London are now rising at 7.6 per cent per year

Search for properties

Mon 19 Dec 2016

prices in London are now rising at 7.6 per cent per year

House prices in London are now rising at 7.6 per cent per year - the lowest figure for 39 months according to property data consultancy Hometrack.

“In London and southern cities homeowners are facing the greatest affordability pressures, while the buoyant investor market has been impacted by fiscal changes as well as tougher underwriting standards for mortgage borrowers” according to Richard Donnell, insight director at Hometrack.

“In larger regional UK cities, such as Birmingham and Manchester, affordability remains attractive and we believe there is room for further price growth over 2017. We predict that city house price growth in 2017 will run slightly higher than the current consensus of two to three per cent, however this will largely be driven by the scale of the slowdown in London” he adds.

The overall headline rate of inflation for Hometrack’s UK Cities House Price Index - which looks at 20 locations around the UK - is currently running at 7.7 per cent, marginally higher than the 7.3 per cent recorded a year ago.

The cities where house prices are now decelerating after five years of high growth, such as London, Oxford, Bournemouth, Bristol and Cambridge, are set to record a five per cent contraction in sales over the course of this year, Hometrack predicts.

In contrast, cities registering sustained growth in house prices are the ones expected to record higher turnover over 2016, with the greatest uplift likely in Birmingham, Leeds, Leicester and Nottingham.

Interested in your property value?

Select properties that are similar to yours

Skip this step if none are similar

Your Details

We won't share your information.

Your results

Your Valuation in the region of...

To sell

To let

Minimum:£000,000

£000,000

Potential:£000,000

Unfortunately we do not have enough data to give you an accurate valuation.
Your local Gould Harrison property expert will be in touch to arrange an accurate valuation taking into account improvements to your property,
the local market and more. Or arrange a valuation now by clicking here.

Whilst this instant valuation provides a guideline, your local Gould Harrison property expert will be in touch to provide a more accurate valuation taking into account improvements to your property, the local market and more.

Recently sold in the area

These properties near you were sold recently.

STREET NAME, TOWN, POSTCODE, UNITED KINGDOM

Start again?

This site complies with the Privacy and Electronic Communications (EC Directive) Regulations 2003 relating to cookies. Click here to find out more and to manage cookies on this site.